Voluntary Surrender of Vehicle Letter [Sample]

[Your Name]
[Your Address]
[City, State, Zip Code]

[DATE]

[Lender’s Name]
[Lending Institution’s Name]
[Lender’s Address]
[City, State, Zip Code]

RE: Voluntary surrender of car loan [Number]

Dear [To Whom It May Concern]:

This letter is to formally inform you that I would like to voluntarily surrender the [Year and Model of Car and VIN]. My financial situation has changed, and I am no longer able to make the monthly payments.

I understand that I must bring the vehicle to you, and that you will sell it at auction. I will be responsible for the difference between what you get for the car subtracted from the balance of my loan.

I will drop off the car according to your instructions and give you the keys and registration papers. I have understood that, with your permission, I could sell the car myself and pay off the loan. If this is agreeable to you, kindly inform me in writing, so I may sell the car privately.

I can be reached at [555-123-4567] or at [name@email.com] if you have any questions or would like to give me further instructions.

Thank you for your attention to this matter.

Sincerely,

[Your Signature]
[Your Printed Name]